We all know that having car insurance in India is mandatory, if you own a four wheel drive of your own. If you were to be stopped by a traffic cop and can produce all registration and ownership papers, but fail to produce car insurance related documents, you could land into some trouble. Apart from avoiding such problems, car insurance policies are extremely useful in getting your car repaired when you have met with an accident. In severe cases, where the vehicle has to be completely replaced, your insurance can come in handy there too.
There are a number of factors based on which your cover amount eligibility and premiums are based, some of which are:
- Your age
- The kind of car you drive
- The place where you will be driving for most parts
- Age of the vehicle
- Past records of the vehicle and your driving experiences
- Any lapses or negative marks on your driver’s licence
- Your employment history and regular income
Once you have selected the right kind of policy to suit your needs and budget, you must thoroughly check the policy terms and conditions because you need to be fully aware of the risks that are covered, as well as those that are not covered by it. It will be a huge disappointment for you, if you were to suffer any unfortunate circumstances and hope for some assistance from your insurance company, but receive none. The common risks covered by car insurance companies are:
- Damages caused by accidents, even if the car is totalled and needs to be replaced
- Car explosions
- Manufacturing defects that lead to mishaps
- Natural calamities such as fires, cyclones, earthquakes or floods
- Theft of the car (and its parts, if they are all insured)
- Damage caused while the car was transported from one place to another, either by road, rail or air
But apart from these regular risks, did you know that your car insurance policy can help you with many other things too? Here are some examples for you:
- In case of getting stranded, you can call for roadside assistance. They can help you with minor car repairs and towing the car to the net destination, if required. Even if you run out of fuel, you can get assistance if covered in the policy.
- Apart from being stranded, if you face any of the above situations elsewhere, you can still claim assistance
- They can help you tyre punctures
- If you have a back-up key safely maintained by the company, they can help you with that, along with lock-out or lost key assistance
- They can help with alternate cars during emergencies.
Thanks to the recent spate of insurance awareness ads and programs, most people are aware that if they choose to buy car insurance online, they have plenty of options to compare and choose from, rather than sticking to their present provider for the rest of their lives.